Dixon Hubard Feinour & Brown Inc. VA cut its holdings in Credit Acceptance Corporation (NASDAQ:CACC) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,407 shares of the credit services provider’s stock after selling 600 shares during the quarter. Credit Acceptance comprises approximately 1.7% of Dixon Hubard Feinour & Brown Inc. VA’s holdings, making the stock its 17th largest position. Dixon Hubard Feinour & Brown Inc. VA owned about 0.11% of Credit Acceptance worth $5,998,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in Credit Acceptance by 102.8% in the 2nd quarter. SG Americas Securities LLC now owns 618 shares of the credit services provider’s stock valued at $159,000 after buying an additional 22,463 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Credit Acceptance by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 619 shares of the credit services provider’s stock valued at $159,000 after buying an additional 40 shares during the period. Rathbone Brothers plc bought a new stake in Credit Acceptance in the 3rd quarter valued at $210,000. First Capital Advisors Group LLC. acquired a new stake in shares of Credit Acceptance in the 3rd quarter valued at $233,000. Finally, M&T Bank Corp acquired a new stake in shares of Credit Acceptance in the 2nd quarter valued at $300,000. 70.72% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on CACC shares. Jefferies Group reiterated a “hold” rating and set a $260.00 price target (up previously from $240.00) on shares of Credit Acceptance in a research report on Tuesday, October 10th. Zacks Investment Research cut Credit Acceptance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $252.00 price target (up from $238.00) on shares of Credit Acceptance in a research note on Tuesday, October 31st. Bank of America upped their price target on Credit Acceptance from $195.00 to $230.00 and gave the company an “underperform” rating in a research note on Tuesday, October 31st. Finally, Credit Suisse Group increased their price objective on Credit Acceptance from $200.00 to $225.00 and gave the company an “underperform” rating in a report on Tuesday, October 31st. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Credit Acceptance presently has a consensus rating of “Hold” and an average price target of $229.78.
Shares of Credit Acceptance Corporation (NASDAQ CACC) opened at $314.12 on Friday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 17.63 and a current ratio of 17.63. The company has a market capitalization of $5,968.21, a PE ratio of 15.37, a PEG ratio of 1.26 and a beta of 0.53. Credit Acceptance Corporation has a 12 month low of $182.50 and a 12 month high of $314.12.
Credit Acceptance (NASDAQ:CACC) last posted its quarterly earnings data on Monday, October 30th. The credit services provider reported $5.43 EPS for the quarter, topping the Zacks’ consensus estimate of $5.15 by $0.28. The company had revenue of $283.90 million for the quarter, compared to analyst estimates of $281.03 million. Credit Acceptance had a return on equity of 32.08% and a net margin of 35.29%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.53 earnings per share. sell-side analysts anticipate that Credit Acceptance Corporation will post 20.84 EPS for the current fiscal year.
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Credit Acceptance Profile
Credit Acceptance Corporation offers financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a network of automobile dealers. The Company has two Dealers financing programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers (Dealer Loan) in exchange for the right to service the underlying consumer loans.
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